greece gdp from tourism

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Travel and tourism's total contribution to GDP in Greece 2019-2022

The economic contribution of travel and tourism in greece, what are the leading inbound travel markets in greece, total contribution of travel and tourism to gdp in greece in 2019 and 2022 (in billion euros).

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2019 and 2022

figures are in constant 2022 prices and exchange rates as of March 2023

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Statistics on " Travel and tourism in Greece "

• Travel and tourism's total contribution to GDP in Greece 2019-2022
• Travel and tourism: share of GDP in the EU-27 and the UK 2019-2022, by country
• Distribution of travel and tourism expenditure in Greece 2019-2022, by type
• Distribution of travel and tourism expenditure in Greece 2019-2022, by tourist type
• Travel and tourism's total contribution to employment in Greece 2019-2022
• Number of inbound tourists in Greece 2005-2022
• Leading international travel markets in Greece 2019-2022, by arrivals
• Average duration of stay by inbound tourists in Greece 2022, by country
• Number of inbound tourist visits to Greece 2019-2022, by region
• International travel receipts in Greece 2003-2022
• International tourist expenditure in Greece 2019-2022, by purpose of trip
• Number of international air arrivals in Athens, Greece 2010-2023
• Number of international air arrivals in Thessaloniki, Greece 2010-2023
• International air arrivals to South Aegean region of Greece 2010-2023, by island
• International air arrivals on the Ionian Islands, Greece 2010-2023, by island
• Total number of domestic trips in Greece 2015-2021
• Number of domestic trips in Greece 2015-2021, by type
• Number of domestic overnight trips in Greece 2015-2021, by purpose
• Number of domestic overnight trips in Greece 2015-2021, by transport
• Domestic tourism spending in Greece 2019-2022
• Number of outbound tourists from Greece 2005-2022
• Leading outbound travel destinations from Greece 2016-2022
• Outbound travel expenditure in Greece 2003-2022
• Outbound travel expenditure by Greek residents 2016-2022, by destination
• Number of tourist accommodation establishments in Greece 2013-2022
• Number of nights in tourist accommodation in Greece 2013-2022
• Number of tourist accommodation establishments in Greece 2022, by type
• Travel and tourism revenue in Greece 2017-2027, by segment

Other statistics that may interest you Travel and tourism in Greece

• Basic Statistic Travel and tourism's total contribution to GDP in Greece 2019-2022
• Basic Statistic Travel and tourism: share of GDP in the EU-27 and the UK 2019-2022, by country
• Basic Statistic Distribution of travel and tourism expenditure in Greece 2019-2022, by type
• Basic Statistic Distribution of travel and tourism expenditure in Greece 2019-2022, by tourist type
• Basic Statistic Travel and tourism's total contribution to employment in Greece 2019-2022

Inbound tourism

• Premium Statistic Number of inbound tourists in Greece 2005-2022
• Premium Statistic Leading international travel markets in Greece 2019-2022, by arrivals
• Premium Statistic Average duration of stay by inbound tourists in Greece 2022, by country
• Premium Statistic Number of inbound tourist visits to Greece 2019-2022, by region
• Premium Statistic International travel receipts in Greece 2003-2022
• Premium Statistic International tourist expenditure in Greece 2019-2022, by purpose of trip

Inbound tourist destinations

• Premium Statistic Number of international air arrivals in Athens, Greece 2010-2023
• Premium Statistic Number of international air arrivals in Thessaloniki, Greece 2010-2023
• Premium Statistic International air arrivals to South Aegean region of Greece 2010-2023, by island
• Premium Statistic Number of international air arrivals in Crete, Greece 2010-2023
• Premium Statistic Leading inbound travel markets in Crete, Greece 2019-2022, by number of visits
• Premium Statistic International air arrivals on the Ionian Islands, Greece 2010-2023, by island
• Premium Statistic Leading inbound tourist markets in the Ionian Islands, Greece 2019-2022

Domestic tourism

• Premium Statistic Total number of domestic trips in Greece 2015-2021
• Premium Statistic Number of domestic trips in Greece 2015-2021, by type
• Premium Statistic Number of domestic overnight trips in Greece 2015-2021, by purpose
• Premium Statistic Number of domestic overnight trips in Greece 2015-2021, by transport
• Basic Statistic Domestic tourism spending in Greece 2019-2022

Outbound tourism

• Premium Statistic Number of outbound tourists from Greece 2005-2022
• Premium Statistic Leading outbound travel destinations from Greece 2016-2022
• Premium Statistic Outbound travel expenditure in Greece 2003-2022
• Premium Statistic Outbound travel expenditure by Greek residents 2016-2022, by destination
• Basic Statistic Number of tourist accommodation establishments in Greece 2013-2022
• Basic Statistic Number of nights in tourist accommodation in Greece 2013-2022
• Basic Statistic Number of tourist accommodation establishments in Greece 2022, by type
• Premium Statistic Number of hotels and similar accommodation in Greece 2013-2022
• Premium Statistic Travel and tourism revenue in Greece 2017-2027, by segment

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• Basic Statistic Travel and tourism's total contribution to GDP in Croatia 2012-2028
• Basic Statistic Travel and tourism's contribution to GDP in Sweden 2017, by type
• Basic Statistic Travel and tourism's total contribution to GDP in Finland 2012-2028
• Basic Statistic Travel and tourism's contribution to GDP in Denmark 2017, by type
• Premium Statistic Tourism employment in Denmark 2010-2020
• Premium Statistic Uruguay: number of tourism employees 2019, by industry
• Basic Statistic Belize: internal travel and tourism consumption 2010-2019
• Basic Statistic International tourism receipts of India 2011-2022
• Basic Statistic Brazil: internal travel and tourism consumption 2010-2019
• Basic Statistic Total contribution of travel and tourism to GDP in UAE by type 2017
• Premium Statistic Number of domestic trips for other personal purposes in Australia 2011-2021
• Premium Statistic Travel agencies and other reservation services in Iceland 2008-2010
• Premium Statistic Preferred cultural aspects among Hallyu tourists South Korea 2019

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Greek Travel & Tourism Sector to Approach Full Recovery This Year, Says WTTC

Sector close to 2019 GDP contribution by the end of 2023

Travel & Tourism jobs to reach pre-pandemic figures

London, UK: The World Travel & Tourism Council’s ( WTTC ) 2023 Economic Impact Research (EIR) today reveals the Greek Travel & Tourism sector is projected to near pre-pandemic levels this year.

The sector is set to contribute €39.2 billion to the Greek economy by the end of 2023, only 4% behind the 2019 pre-pandemic high of €40.8 billion.

WTTC is also forecasting that the sector will create more than 17,000 jobs this year, reaching the 2019 peak of 820,000 employed by Travel & Tourism.

A look back on last year

Last year, the Travel & Tourism sector’s GDP contribution grew by nearly two fifths (38.2%) to reach nearly €38 billion, representing 18.5% of the Greek economy.

The sector also created 5,000 more jobs, compared to the previous year, to reach almost 800,000 jobs nationally.

According to the report, the sector has now recovered 82%% of the jobs lost during the pandemic.

Last year also saw the return of international travellers heading to Greece, with the UK (14%), Germany (14%), and Bulgaria (10%) leading as source markets for international arrivals in Greece. 

According to the data, in 2022, international visitor spend contributed €19.1 billion to the national economy, representing a year-on-year growth of more than 56%.

Julia Simpson, WTTC President & CEO, said: “The Travel & Tourism sector is very important in Greece, representing more than 19% of the economy. Tourism is recovering strongly with high visitor demand. Greece is one of Europe’s most popular destinations, and the data clearly shows travellers are heading back in their droves. Greece took a leadership position during the pandemic.

“The future for the sector in Greece is optimistic. By the end of this year, the sector’s contribution will be almost back to 2019 levels. Over the next decade, growth will outstrip the national economy growth rate and create thousands of new jobs over the next decade.”

What does the next decade look like?

The global tourism body is forecasting that the sector will grow its GDP contribution to €57.2 billion by 2033, representing nearly a quarter (23.6%) of the Greek economy.

Over the next decade, Travel & Tourism could employ more than 1,02 million people across the country, with one in four jobs supported by the sector.

In 2022, the European Travel & Tourism sector contributed €1.9 trillion to the regional economy, just 7% below the 2019 peak. WTTC forecasts the regional sector’s GDP contribution will reach €2.04 trillion in 2023 and be within touching distance of the 2019 highpoint.

The sector employed 34.7 million people across the region in 2022, an increase of 2.9 million from the previous year, but still 3.2 million behind the 2019 peak. WTTC forecasts the sector will fully recover the jobs lost during the pandemic by the end of 2024.

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Editors Notes

The research was carried out in partnership with Oxford Economics with information sourced from UNWTO, Oxford Economics and national sources. All values are in constant 2022 prices and exchange rates, as reported in March 2023.

The Economic Impact Research defines Europe as geographical Europe. Monetary figures for Europe are provided in EUR.  

Colombia registrara un incremento del 24% en turistas internaciones en el primer semestre del año WTTC

Julia Simpson, World Travel & Tourism Council President & CEO Addresses guests at ITB Opening Ceremony in Berlin

Colombia registrará un incremento del 24% en turistas internacionales en el primer semestre del año

International tourism, receipts (current US$) - Greece

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How Much Of Greece’s GDP Is Contributed By Tourism

Published: December 13, 2023

Modified: December 28, 2023

by Cristie Carnes

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Introduction

Greece, known for its rich history, stunning landscapes, and vibrant culture, is a country that thrives on tourism. From the ancient ruins of Athens to the picturesque islands of Santorini and Mykonos, Greece offers a myriad of attractions for visitors from around the globe. The tourism industry holds immense significance for the Greek economy, contributing substantially to its GDP and providing employment opportunities for its citizens.

Greece has long been a sought-after destination for travelers seeking a mix of breathtaking natural beauty, historical treasures, and warm Mediterranean hospitality. With its charming coastal villages, pristine beaches, and archaeological sites that date back thousands of years, Greece offers a unique and captivating experience for tourists.

Over the years, Greece has seen a steady increase in tourist arrivals, making it one of the top tourist destinations in Europe. The allure of Greece lies not only in its iconic landmarks, but also in its authentic Greek cuisine, bustling markets, and lively nightlife. Visitors can explore the ancient Acropolis, bask in the sun on the sandy beaches of Crete, or immerse themselves in the vibrant atmosphere of Thessaloniki’s city streets.

With such diverse offerings, it’s no surprise that tourism plays a crucial role in Greece’s economy. In recent years, tourism has become one of the main drivers of economic growth, contributing significantly to the country’s GDP and employment rates. The sector has the potential to provide a sustainable source of revenue and contribute to the overall socio-economic development of Greece.

This article will delve into the importance of tourism in Greece, its contribution to the country’s GDP, the factors influencing tourism’s impact on the economy, the overall economic impact of tourism, the challenges and opportunities faced by the tourism sector, and the strategies employed to boost tourism and its contribution to Greece’s GDP.

The Importance of Tourism in Greece

Tourism plays a pivotal role in the Greek economy, acting as a major driver of economic growth and development. It is a significant source of revenue, job creation, and foreign exchange earnings for the country.

First and foremost, tourism contributes heavily to Greece’s GDP. In fact, it is one of the largest sectors in the Greek economy, accounting for a substantial portion of the country’s overall economic output. The revenue generated from tourism activities directly and indirectly supports various other industries, such as hospitality, transportation, retail, and entertainment.

Furthermore, the tourism sector is a vital source of employment in Greece. It creates jobs not only in traditional tourism-related sectors like hotels and restaurants but also in various supporting industries. These include tour operators, travel agencies, souvenir shops, and local handicraft producers, among others. The employment opportunities generated by tourism help reduce unemployment rates and contribute to the overall welfare of the Greek population.

Another significant aspect of tourism in Greece is its contribution to foreign exchange earnings. Tourism brings in a substantial amount of foreign currency through the spending of international visitors. This inflow of foreign funds helps strengthen Greece’s balance of payments and contributes to the stability of its economy.

Beyond its economic impact, tourism also plays a crucial role in showcasing Greece’s rich cultural heritage, history, and natural beauty to the world. The country’s iconic landmarks, including the Parthenon, Delphi, and Meteora, attract millions of visitors each year. Moreover, Greece’s stunning islands, such as Rhodes, Corfu, and Zakynthos, entice tourists with their pristine beaches, crystal-clear waters, and charming villages. The promotion and preservation of Greece’s cultural and natural assets are essential for sustaining the tourism industry for future generations.

Furthermore, tourism fosters cultural exchange and understanding. It provides an opportunity for locals and visitors to interact, share experiences, and learn from one another, promoting tolerance and appreciation for diverse cultures. This cultural exchange enriches the social fabric of Greece and enhances its global reputation as a welcoming and inclusive destination.

In summary, tourism is of paramount importance to Greece. It drives economic growth, creates employment opportunities, generates foreign exchange earnings, and promotes the country’s cultural and natural heritage. As Greece continues to prioritize and invest in its tourism sector, it can reap the benefits of a thriving industry that will contribute to the overall prosperity of the country.

Tourism’s Contribution to Greece’s GDP

Tourism has a significant impact on Greece’s Gross Domestic Product (GDP), making it one of the key sectors driving the country’s economic growth. The revenue generated from tourism activities directly contributes to the overall economic output of Greece.

In recent years, tourism has consistently accounted for a substantial percentage of Greece’s GDP. According to data from the World Travel and Tourism Council (WTTC), the direct contribution of tourism to Greece’s GDP was around 8.3% in 2019. This figure reflects the direct economic impact of tourism-related sectors and activities, including accommodation, food and beverage services, transportation, and travel agencies.

The indirect contribution of tourism to the Greek economy is also significant. It encompasses the ripple effect generated by tourism-related spending and investment. For instance, the demand for goods and services from various sectors, such as agriculture, manufacturing, and construction, increases as a result of the tourism industry’s growth. This indirect contribution amplifies the overall impact of tourism on Greece’s GDP.

The tourism sector’s contribution to GDP extends beyond direct spending. It also considers the multiplier effect, which accounts for the additional economic activity generated as a result of tourism-related spending. This includes the income generated by those employed in the tourism industry who, in turn, spend their wages on other sectors of the economy, such as retail and healthcare.

Moreover, tourism plays a vital role in generating tax revenues for the Greek government. Taxation is imposed on various aspects of the tourism industry, including accommodations, travel services, restaurants, and entertainment. The tax revenue collected from the tourism sector contributes to the overall government revenue and can be reinvested in infrastructure development, public services, and other sectors that contribute to the country’s growth.

It’s important to note that the contribution of tourism to Greece’s GDP fluctuates based on various factors, such as global economic conditions, political stability, natural disasters, and pandemics. External factors, like global travel trends and geopolitical events, can impact tourist arrivals and spending patterns, thus influencing the sector’s contribution to the GDP.

Overall, tourism’s contribution to Greece’s GDP is substantial. It brings in revenue, creates employment opportunities, and stimulates economic growth across various sectors. As Greece continues to invest in its tourism industry, promoting its unique cultural heritage, natural attractions, and warm hospitality, the sector’s contribution to the country’s GDP is expected to remain significant in the years to come.

Factors Influencing Tourism’s Contribution to GDP

Several factors influence the contribution of tourism to Greece’s Gross Domestic Product (GDP). Understanding these factors is crucial for policymakers and stakeholders to develop strategies to maximize the sector’s potential and mitigate any negative impacts.

1. Tourist Arrivals: The number of tourists visiting Greece directly affects the tourism sector’s contribution to GDP. Fluctuations in tourist arrivals can be influenced by factors such as global economic conditions, political stability, natural disasters, and pandemics. Destinations that are popular among tourists and experience a consistent influx of visitors tend to have a stronger impact on GDP.

2. Tourist Spending: The average expenditure per tourist also plays a role in determining the contribution of tourism to GDP. Higher spending on accommodation, meals, transportation, and leisure activities translates to a greater economic impact. Encouraging high-value tourism, attracting visitors with disposable income, and offering diverse experiences can enhance the sector’s contribution to GDP.

3. Infrastructure and Accessibility: The quality and accessibility of infrastructure heavily influence the tourism sector’s growth and its contribution to GDP. Efficient transportation systems, well-maintained roads, airports, and ports facilitate the movement of tourists to various destinations. Investments in infrastructure can boost tourist arrivals and encourage longer stays, positively impacting GDP.

4. Tourism Policy and Regulation: Government policies and regulations related to tourism can significantly influence the sector’s contribution to GDP. Encouraging investment in the tourism industry, simplifying visa processes, implementing supportive policies to attract foreign tourists, and ensuring a favorable business environment can enhance the sector’s growth and economic impact.

5. Quality of Tourism Offerings: The quality and diversity of tourism offerings, including accommodation, attractions, activities, and services, can impact tourist satisfaction and spending. Enhancing and promoting Greece’s cultural heritage, natural beauty, gastronomy, and unique experiences can attract more tourists and encourage higher spending, positively influencing GDP.

6. Seasonality and Diversification: Tourism in Greece has traditionally been seasonal, with peak periods during the summer months. However, efforts to diversify tourism by promoting year-round attractions, such as cultural events, winter sports, and nature activities, can reduce seasonality and extend the tourism season. A more balanced and extended tourism season can boost the sector’s contribution to GDP.

7. Marketing and Promotion: Effective marketing and promotion campaigns play a vital role in attracting tourists to Greece. Targeted strategies that highlight unique selling points, advertise through various channels, and engage with potential visitors online can increase awareness and interest in the destination. Well-executed marketing efforts can drive tourist arrivals and ultimately impact GDP.

It is essential to monitor and analyze these factors continuously to adapt and optimize tourism strategies. By addressing these factors, Greece can enhance its tourism industry’s potential, increase its contribution to GDP, and ensure sustainable growth in the sector for the long term.

The Economic Impact of Tourism in Greece

The tourism industry has a profound economic impact on Greece, contributing significantly to the country’s overall economic development and providing numerous benefits at both national and local levels.

One of the primary economic benefits of tourism is its contribution to job creation. The industry provides employment opportunities for a wide range of individuals, from hotel staff and tour guides to transportation providers and artisans selling local crafts. Direct employment in the tourism sector, as well as indirect and induced jobs in supporting industries, helps reduce unemployment rates and improve the livelihoods of local communities.

The revenue generated from tourism activities has a significant impact on Greece’s GDP. The direct and indirect spending by tourists on accommodation, food and beverages, transportation, shopping, and attractions contributes to the country’s economic output. In addition, the multiplier effect of tourism spending stimulates economic activity in related sectors, such as agriculture, manufacturing, and retail, further boosting GDP.

Tourism also provides a vital source of foreign exchange earnings for Greece. The spending of international tourists goes directly into the country’s economy, generating foreign currency that can be used to support imports, reduce trade deficits, and enhance the stability of the national currency. This is especially important for a country like Greece, which heavily relies on tourism as an exportable service.

Furthermore, tourism stimulates investment and infrastructure development. As the demand for accommodation, transportation, and tourist facilities increases, private and public sector investments flow into these areas. This investment not only improves the quality and quantity of tourism offerings but also benefits local communities through the creation of new facilities, upgrading of infrastructure, and preservation of cultural and natural heritage.

The economic impact of tourism is not limited to the revenue generated during the tourist’s visit. Visitors often engage in other economic activities, such as shopping for local products, dining at local restaurants, and participating in cultural events or festivals. These additional expenditures contribute to local businesses and stimulate economic growth at the destination, especially in rural and less-developed areas that rely heavily on tourism.

Moreover, tourism can have a positive impact on income distribution. By providing employment opportunities across various sectors and supporting small and medium-sized enterprises, tourism helps redistribute income and create more inclusive economic growth. This is particularly beneficial for remote and disadvantaged regions, as tourism can bring economic prosperity and improve the standard of living for local populations.

However, it is important to balance the positive economic impact of tourism with sustainability and responsible practices. Ensuring that tourism development is environmentally and socially sustainable will help safeguard the long-term economic benefits for Greece, protect its natural resources, and preserve its cultural heritage.

In summary, the economic impact of tourism in Greece is significant, with contributions to GDP, job creation, foreign exchange earnings, investment, and income distribution. By harnessing the potential of its tourism sector and implementing sustainable practices, Greece can continue to benefit from the positive economic effects of tourism and support the overall development of the country.

Challenges and Opportunities for Greece’s Tourism Sector

Greece’s tourism sector faces both challenges and opportunities that can shape its future growth and sustainability. Understanding these factors is crucial for stakeholders and policymakers to navigate the evolving landscape of the industry.

Challenges:

• Seasonality: One of the significant challenges for Greece’s tourism sector is the seasonality of demand. The majority of visitors are concentrated during the summer months, leading to uneven economic benefits and employment opportunities. Efforts to promote year-round tourism and diversify offerings can help mitigate the effects of seasonality.
• Dependency on External Factors: Greece’s tourism sector is vulnerable to external factors such as global economic conditions, political instability, natural disasters, and pandemics. These factors can impact tourist arrivals and spending patterns, affecting the sector’s contribution to the economy. Diversifying source markets and enhancing domestic tourism can reduce reliance on specific regions and mitigate external risks.
• Infrastructure and Accessibility: Although Greece offers stunning natural and cultural attractions, some areas lack adequate infrastructure and accessibility. Improving transportation networks, upgrading accommodation facilities, and enhancing connectivity to remote regions can attract more tourists and unlock the full potential of the country’s tourism resources.
• Sustainability and Overtourism: Managing sustainability is crucial to preserve Greece’s natural and cultural assets. Overtourism in popular destinations can lead to overcrowding, degradation of resources, and negative impacts on local communities. Striking a balance between attracting visitors and preserving the environment and local culture is essential for long-term sustainable tourism development.

Opportunities:

• Diverse Offerings: Greece has a wealth of diverse tourism offerings, including historical sites, UNESCO World Heritage sites, stunning landscapes, and beautiful islands. Capitalizing on these unique selling points and promoting niche tourism products such as ecotourism, culinary tourism, and cultural experiences can attract a wider range of tourists and extend their stay.
• Investment in Infrastructure: Continued investment in tourism infrastructure is a significant opportunity for Greece. This includes upgrading airports, ports, roads, and public transportation systems, as well as enhancing accommodation facilities and tourist attractions. Improved infrastructure will enhance the visitor experience and support sustainable tourism growth.
• Digital Transformation: Embracing digital technologies and investing in digital marketing can significantly enhance Greece’s tourism sector. Utilizing social media platforms, online booking systems, and personalized marketing strategies can attract a broader audience and enable targeted promotion of the country’s tourism offerings.
• Regional Development: Greece’s tourism sector has the potential to drive regional development, especially in less-developed areas. Promoting and supporting community-based tourism initiatives, empowering local communities, and fostering entrepreneurship can create inclusive growth and distribute tourism benefits more equitably.

By addressing the challenges and capitalizing on these opportunities, Greece can position itself as a sustainable and diverse tourism destination, maximizing economic benefits, preserving its natural and cultural heritage, and ensuring long-term success for the tourism sector.

Strategies to Boost Tourism and GDP Contribution

Greece has the opportunity to implement various strategies to boost its tourism sector and increase its contribution to the country’s Gross Domestic Product (GDP). These strategies focus on attracting more tourists, extending their stays, and maximizing their spending, ultimately driving economic growth.

• Diversification of Tourism Offerings: Greece can enhance its tourism appeal by diversifying its offerings. It can promote lesser-known regions, historical sites, and natural landscapes alongside popular destinations. Emphasizing niche tourism segments like adventure tourism, wellness tourism, and cultural experiences can attract a wider range of visitors and extend their stays.
• Investment in Infrastructure: Continued investment in tourism infrastructure is vital to accommodate growing tourist numbers. Upgrading airports, ports, road networks, and public transportation systems can improve accessibility to various destinations. Additionally, enhancing accommodation options, tourist facilities, and attractions will enhance the visitor experience and encourage longer stays.
• Sustainable Tourism Development: Embracing sustainable practices is key to preserving Greece’s natural and cultural resources while creating a positive tourism experience. Implementing eco-friendly initiatives, promoting responsible tourism practices, and supporting community-based tourism projects can ensure the long-term viability of the sector and appeal to conscientious travelers.
• Digital Transformation: Leveraging digital technologies and online platforms can significantly enhance Greece’s tourism sector. Investing in digital marketing strategies, utilizing social media platforms, developing user-friendly websites, and adopting online booking systems can increase the visibility of Greece as a tourist destination and attract a broader audience.
• Collaboration and Partnerships: Collaboration among industry stakeholders, including government bodies, tourism boards, local communities, and private enterprises, is crucial for the growth of the tourism sector. Establishing public-private partnerships, fostering cooperation between different regions and sectors, and involving local communities in decision-making processes can create a cohesive and sustainable tourism ecosystem.
• Promotion of Off-Season Tourism: Encouraging tourism outside of the peak season can help reduce seasonality and extend the tourism season. Offering incentives, organizing festivals and events, and marketing off-season attractions can attract visitors during periods with lower demand, ultimately maximizing the sector’s economic impact throughout the year.
• Investment in Skills and Hospitality Training: Enhancing the skills and professionalism of the tourism workforce is crucial for delivering exceptional visitor experiences. Providing training programs, fostering a customer-centric approach, and promoting cultural exchange can enhance service quality, ensure visitor satisfaction, and contribute to the overall growth of the tourism sector.

These strategies, when implemented cohesively, can contribute to the growth and sustainability of Greece’s tourism sector. By capitalizing on its diverse offerings, investing in infrastructure, adopting sustainable practices, embracing digital transformation, fostering collaboration, promoting off-season tourism, and investing in skills development, Greece can attract more visitors, increase their spending, and maximize the sector’s contribution to the country’s GDP.

Greece’s tourism industry holds immense importance for the country’s economy, contributing significantly to its Gross Domestic Product (GDP) and providing employment opportunities for its citizens. The sector’s contribution to GDP is driven by the revenue generated from tourism activities, job creation, foreign exchange earnings, and the multiplier effect on related industries.

Tourism in Greece offers a diverse range of attractions, from historical sites and cultural heritage to stunning landscapes and picturesque islands. The sector showcases Greece’s rich history, vibrant culture, and renowned hospitality, attracting millions of visitors from around the world each year. Moreover, tourism serves as a catalyst for cultural exchange, fostering understanding and appreciation for diverse cultures.

While the tourism sector in Greece faces challenges such as seasonality, external factors, and sustainability, there are ample opportunities for growth and development. Strategies such as diversifying tourism offerings, investing in infrastructure, adopting sustainable practices, embracing digital transformation, promoting off-season tourism, and investing in skills development can enhance the sector’s potential and maximize its contribution to the country’s GDP.

By implementing these strategies in a concerted manner, Greece can position itself as a sustainable and diverse tourism destination, attracting a wider range of tourists, extending their stays, and increasing their spending. This will not only boost the country’s economic growth but also contribute to regional development, income distribution, and the preservation of Greece’s natural and cultural heritage.

It is important for Greece to continuously assess and adapt to changing market trends, global conditions, and visitor preferences. By staying proactive and responsive to the evolving needs of the tourism industry, Greece can maintain its competitive edge and sustain long-term success in the sector.

In conclusion, the tourism sector plays a crucial role in Greece’s economic development, contributing significantly to its GDP and providing numerous benefits. With the right strategies and a commitment to sustainability, Greece can continue to thrive as a world-class tourism destination, while preserving its unique cultural heritage and natural wonders for future generations to enjoy.

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INSETE: 5 Greek Regions Account for 90% of Country’s Tourism Revenues

Greece’s tourism revenues reached 24 billion euros in 2022 contributing 11.5 percent directly to Greece’s GDP with 90 percent of all travel receipts concentrated in five of the country’s 13 regions, found a report released this week by INSETE , the  Greek Tourism Confederation’s (SETE)  research body.

More specifically, the five regions are: the South Aegean islands  accounted for 27 percent of total tourism revenues, followed by Crete (21 percent), Attica (17 percent), the Ionian islands (15 percent) and Central Macedonia (9 percent).

According to the data, once again the South Aegean Region, which includes popular destinations like Mykonos and Santorini, was in the lead with more than 6.5 million people visiting the islands in the first 10 months of this year on 47,900 international flights surpassing 2022 levels for the same period by 1 percent despite the fires on Rhodes, the region’s largest island.

According to INSETE analysts, the 2022 figures demonstrate the resilience and dynamic of the sector particularly post-Covid .

At the same time, in addition to the majority of revenues concentrated in five regions, seasonality is also still an issue in Greece with the bulk of arrivals reported in the third quarter of 2022 and the July-September period accounting for 56 percent of all arrivals.

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For a Sustainable Tourism Industry

For a sustainable tourism industry

According to data released annually by the Association of Greek Tourism Enterprises (SETE) and the Bank of Greece, tourism is a major contributor to Greek economy and a sector of rising competitiveness at global level.

• Tourism accounts for 18% of Greece’s GDP and employs more than 900,000 people, accounting for one fifth of the workforce.
• The number of international tourist arrivals rose from 15,000,000 in 2010 to over 16,000,000 million in 2011, marking a 10% increase. This year 17,000,000 (almost  twice the country’s population) international tourist arrivals are expected.

Did you know?

• Greece has more international airports than most countries.

See also:  Greek Tourism 2020

Investment Opportunities The increasing number of tourists and the evolving profile of today’s traveller demand new ideas and infrastructure projects. In Greece, investors will find a wide spectrum of opportunities, a friendly environment, and some of the most beautiful locations in the world. Although the country’s tourism infrastructure is well developed, Greece is committed to establishing itself as a 12-month destination. Its Mediterranean climate is ideal for activities such as year round golf and trekking and it is estimated that one million Europeans would consider Greece as a second home destination. The targeted sectors for expansion include the development of integrated resorts and residential real estate, golf courses and sports tourism, wellness and health tourism, upgraded and new marinas, conference centers, agrotourism products, religious tourism, thermal spas and thalassotherapy centers, culinary tourism, and a wide range of thematic offerings related to Greece’s rich cultural and historical heritage. Read more...

Growth Drivers Investment Incentives Law The New Investment Law for supporting Private Investment for Economic Growth, Entrepreneurship, and Regional Cohesion, was voted on and passed by the Greek Parliament and is to be implemented following the relevant Presidential Decrees and Ministerial Decisions. Read more... Public Private Partnership Greece’s newly implemented PPP (Public Private Partnership) scheme provides significant opportunities to investors to participate in new infrastructure projects, including marinas and thermal springs. Read more... National Strategic Reference Framework The National Strategic Reference Framework (NSRF) for the years 2007-2013 establishes the broad priorities for EU Structural Funds Programmes in Greece. Greece’s NSRF seeks to achieve a balanced development of the country, with 82 percent of its budget focusing on regional projects. With a total budget of almost €40 billion, NSRF will advance projects directly and indirectly related to tourism development and will provide investors with ample opportunities to participate in a wide number of projects. For tourism, NSRF provides significant financial support, with a budget of more than €500 million until 2013. A core NSRF objective is to increase demand and upgrade the quality of the tourist product and tourist services at all levels. NSRF support focuses on:

• prolonging the tourist period throughout Greece, and reducing seasonality
• promoting the country’s international appeal as a safe and attractive tourist destination
• Increasing the number of foreign visitors
• Reinforcing domestic tourism.

Investment in the tourism sector will include the upgrade of marinas, the promotion of special forms of tourism, the creation of cultural pathways, the upgrade of winter tourism infrastructure, and the subsidizing of private investments, according to the new Incentives Law that was implemented in 2011. Read more... Sustainability Inherent in Greece’s tourism development policy is the issue of sustainability. Many hotels and resort complexes are installing photovoltaic systems in an effort to become more carbon neutral. The need for new and efficient building solutions, desalination plants, energy efficient power supplies, closed loop resource systems, and software monitoring systems are just some of the areas in which Greece’s tourism sector will take advantage of new technologies for years to come. Also, Greece is promoting its unique ecosystems and nature reserves, many listed under the Ramsar Treaty. These are exceptional destinations where visitors may enjoy some of the most diverse flora and fauna in Europe. From bird watching to mountain hiking, activities that can be combined with distinctive lodging and singular experiences are highly popular for today’s traveler that is seeking out-of-the-ordinary experiences. Human Resources Because Greece, a country of 11 million inhabitants, hosts more than 17 million visitors, education and training in tourism services is paramount. The workforce is multilingual, well versed in the tourism sector, and willing to respond to new challenges. From management to catering, human resources for tourism enterprises is a Greek strength. Read more... Ministry of Tourism Reflecting the importance of tourism to the Greek economy, a ministry dedicated to formulating and overseeing tourism policy is a core component of the Greek government. The Ministry of Tourism coordinates a wide number of diverse policies and developments with other ministries so that Greece’s tourism sector remains strong, vibrant, and responsive. Read more... See also: Greece Joins "50,000 Tourists" Initiative and Balkan Turismo

Greek National Tourism Organisation The Greek National Tourism Organisation (GNTO), under the direction of the Ministry of Tourism, is responsible for promoting tourism in Greece and oversees a number of organisations related to tourism education, development, and real estate. Read more... See also: Greece at the Vienna Tourism Fair , Greece at the World Travel Market and Visit Greece…on your Plate! Global Marketing Support Greece as a tourism destination enjoys an extensive, multilingual, global marketing campaign in all media. In addition, Greece is fully represented at all key tourism trade shows and is promoted by major travel and tour operators worldwide.

See also: Offices Abroad

• Embassy of Greece in Washington DC
• Consulate General in San Francisco
• Consulate General in Boston
• Consulate General in Los Angeles
• Consulate General in New York
• Consulate General in Chicago
• Consulate General in Tampa
• Consulate in Atlanta
• Consulate in Houston

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Greece is over-reliant on tourism

Tourism generates over a quarter of Greece’s gross domestic product, according to data presented on Wednesday by the Institute of the Greek Tourism Confederation (INSETE). The data highlight the industry’s importance to the national economy and employment, as well as tourism’s quasi-monopolistic status in the country’s growth.

According to the latest figures available, at least one percentage point out of the 1.9 points of economic expansion last year came from tourism.

The INSETE report showed that tourism had a direct impact on the economy in 2018, amounting to 21.6 billion euros or 11.7 percent of GDP. This was up by 13.3 percent or 2.5 billion euros from 2017. Directly and indirectly, tourism accounted for between 47.4 billion and 57.1 billion euros, or 25.7 to 30.9 percent of GDP.

Given that travel receipts rose by 10.1 percent last year from 2017, per the Bank of Greece, to reach 16.113 billion euros, tourism has added 1.483 billion euros to Greece’s GDP just through its direct impact, and much more indirectly. These figures amount to about half of the economy’s total expansion.

That also illustrates the country’s great dependence on tourism, as Greece has not developed any other important sector, with the possible exception of shipping, which accounts for about 7 percent of GDP.

At peak season last year, tourism employed 411,000 people in accommodation and food service companies alone, contributing 16.7 percent of the country’s employment. When the indirect impact of tourism is factored in, including professions such as transport etc, its share in national employment ranged between 36.7 and 44.2 percent, making it the main factor in the reduction of unemployment, particularly for young people, according to INSETE.

The tourism sector also made a sizable contribution in terms of investment activity, amounting to 5 billion euros in 2018, and 90 percent of the sector’s revenues originated from abroad.

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